Used primarily in biochemical research, this compound serves as a modified nucleoside for studying nucleic acid interactions and enzyme mechanisms. It is particularly valuable in the synthesis of labeled nucleotides for tracking and analyzing DNA and RNA processes. Additionally, it plays a role in the development of antiviral and anticancer agents, as its structure can be incorporated into nucleic acids to inhibit viral replication or disrupt cancer cell growth. Its iodine component also makes it useful in radiolabeling studies for imaging and diagnostic purposes.